Tennant (NYSE:TNC) Announces Quarterly Earnings Results

Tennant (NYSE:TNC) released its quarterly earnings data on Wednesday. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.50), Zacks reports. Tennant had a return on equity of 14.87% and a net margin of 2.55%.During the same quarter in the previous year, the company earned $1.49 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. Tennant updated its FY 2026 guidance to 3.800-4.450 EPS.

Tennant Stock Down 2.5%

TNC traded down $2.22 during trading hours on Wednesday, reaching $87.00. 145,876 shares of the stock traded hands, compared to its average volume of 148,228. Tennant has a fifty-two week low of $60.17 and a fifty-two week high of $91.93. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 52.41, a PEG ratio of 2.49 and a beta of 1.13. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.12 and a quick ratio of 1.41. The firm’s fifty day simple moving average is $86.83 and its two-hundred day simple moving average is $79.57.

Tennant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.31 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. Tennant’s dividend payout ratio is 74.70%.

Tennant declared that its Board of Directors has authorized a stock repurchase plan on Monday, May 4th that permits the company to repurchase 2,000,000,000,000 shares. This repurchase authorization permits the industrial products company to repurchase up to 11.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Tennant

Several large investors have recently modified their holdings of the business. Royal Bank of Canada grew its stake in Tennant by 23.0% during the 1st quarter. Royal Bank of Canada now owns 4,563 shares of the industrial products company’s stock valued at $364,000 after purchasing an additional 854 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Tennant by 68.8% during the first quarter. AQR Capital Management LLC now owns 49,724 shares of the industrial products company’s stock worth $3,966,000 after buying an additional 20,275 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Tennant by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,271 shares of the industrial products company’s stock worth $899,000 after buying an additional 491 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Tennant by 17.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 56,214 shares of the industrial products company’s stock worth $4,483,000 after buying an additional 8,421 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Tennant by 39.1% in the first quarter. Jane Street Group LLC now owns 38,911 shares of the industrial products company’s stock worth $3,103,000 after buying an additional 10,946 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TNC. Weiss Ratings raised shares of Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Wall Street Zen raised Tennant from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Zacks Research upgraded Tennant from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $91.00.

Tennant Company Profile

Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.

Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.